Finance automation presents a range of significant benefits, taking away the burden of managing accounts payable and receivable manually, for productivity improvements and increased accuracy. 

Xenith accounts payable automation supports you in leveraging these benefits. Read on to discover our guide to some of the top features of the software…

Insightful dashboards

A key benefit of finance automation is its ability to offer full cash flow visibility and management. Xenith finance automation software provides pre-defined dashboards to facilitate strategic, data-driven decision-making. Finance leaders can better identify early payment discounts and growth opportunities, whilst ensuring a high level of predictability and control. Teams can proactively look for trends within the company and ensure optimal cash allocation for smooth business operations. 

Easy approvals across any device

Gone are the days of needing to keep chasing invoice approvals manually, which can prove distracting and time-consuming. With Xenith software, you can add as many users as you need and set up approval workflows to do the legwork for you. Plus, with approvals across any device, users can approve invoices wherever they are. 

Seamless integration with ERP system

A company’s Enterprise Resource Planning (ERP) system is a key part of managing everyday operations, and supporting core business processes in finance, procurement, and more. Xenith accounts payable automation seamlessly integrates with your ERP system to ensure data flows through automatically. This makes it easy to determine approved vendors, track key invoice information, and reduce the risk of duplicate payments. 

An all-in-one solution 

Using multiple systems to manage accounts payable and receivable processes often requires data rekey and can present security vulnerabilities. Xenith finance automation software consolidates your systems, providing one place to manage your AP and AR tasks. Our software includes security protocols like two-step verification enforcement to reduce the risk of fraud. Implementing an all-in-one solution also supports consistency in processes across your teams, as well as making it easier to meet security compliance requirements. 

Invoice capture and document management 

Automating data capture takes the bulk of the effort away from manual data entry, freeing up the capacity for your finance team to carry out impactful tasks in the business. Xenith invoice capture software extracts 95% of data automatically and removes the need to manually keep track of emails, manage attachments, and save documents. Instead, everything is captured for you within the system. You can also track document history and see which users make changes, ensuring full visibility. 

3-way matching 

Xenith’s automated 3-way matching makes it easy to detect invoice duplicates and errors, allowing you to correct inaccuracies before making payments. The software automatically compares invoice details and ensures purchase orders, invoices, and receipts all align, for no surprise figures down the line. 

Request a call with a specialist 

Get started with finance automation by requesting a call with a specialist from Xenith. We’ll assess your current accounts payable and receivable processes and advise on how finance automation software could help your business to gain new efficiencies and unlock the power of automation.